Trans-1 reurn

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Query (Issue) Started By: - MohanLal tiwari Dated:- 22-8-2017 Last Reply Date:- 23-8-2017 Goods and Services Tax - GST
Got 6 Replies
GST
Please advise whether we should include following balance of Excise regime in GST TRANS -1 "5a, 5b, 5c - amount of tax credit carried forward" 1. Balance of PLA 2. Balance of Cess 3. Balance of Higher Education Cess. In ad .....

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..... dition to above, we are not finding any column in GSTR-1 to furnish the details of transitional Excise Invoices against which cenvat credit could not availed as materials received in July'17. Reply By Himansu Sekhar: The Reply: 1. The tran1 is for transfer of credit, not pla balance 2. E.cess and she cess cannot be transferred, board clarified in FAQ. Reply By Himansu Sekhar: The Reply: G .....

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..... str1 is for outward supply, gstr2 for taking inward supplies and ultimate route to credit ledger. Reply By Himansu Sekhar: The Reply: Balance of pla can be claimed as refund, refer sec 142 of cgst act, read with serc 11B of CE Act 1944. Reply By Ganeshan Kalyani: The Reply: All the balance as mentioned in your query is not allowed to carry forward in GST TRAN 1 form. PLA should be claimed by w .....

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..... ay of refund. Cess is not allowed as credit. Reply By Ganeshan Kalyani: The Reply: Invoice booked in July 2017 of the material dispatched by vendor in June 2017 need to be shown in the GST TRAN 1. This should be mentioned in point 7 of the return. Invoice wise detail is required to be filled up in the return. Reply By KASTURI SETHI: The Reply: I agree with both experts. Very clear cut reply by .....

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Discussion Forum - Knowledge Sharing .....

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